Aircraft Wheels MRO Market Revenue to Surpass USD 1,704.25 Million by 2028 at 7.2% CAGR: Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

According to our new research study on "Aircraft Wheels MRO Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Wheel Type, Aircraft Type, Technology, and Geography," the market is projected to reach US$ 2,769.54 million by 2028 from US$ 1,704.25 million in 2021; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028.

The report aims to provide an overview of global Aircraft Wheels MRO Market with detailed market segmentation by product/application and geography. The global Aircraft Wheels MRO Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the Aircraft Wheels MRO players and offers key trends and opportunities in the market.

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With the rapidly growing aviation industry from the last few years, the demand for aircraft wheels MRO services is also increasing. Emerging economies in APAC are showcasing a significant rise in the adoption of MRO services for the components of commercial and military aircraft, including aircraft wheels. The well-established MRO hubs in Singapore, Malaysia, and Thailand, among others, produce significant revenues from the services provided for aircraft wheels. The aircraft wheels MRO service hub in Singapore is characterized by the presence of AMETEK Singapore Pte Ltd., SIA Engineering Company Limited, and Singapore Technologies Aerospace Ltd, among others. In June 2019, Singapore Technologies Engineering Ltd formed a joint venture with Vietnam Airlines Engineering Company (VAECO) to offer MRO services for wheels and other aircraft components to Vietnam Airlines.

Further, according to Wisconsin Economic Development Corporation (WEDC), the country houses over 120 aerospace companies that contribute to ~25% of the MRO services business in APAC. Further, Singapore-based airlines observe substantial growth in passenger counts, which is compelling them to operate their aircraft fleet for extended periods. The flying frequency is directly proportional to the demand for MRO activities, involving repairing or replacing wheels and other aircraft components. Additionally, countries such as Malaysia, Thailand, Vietnam, Indonesia, and the Philippines are witnessing a surge in aircraft wheels MRO services due to the rise in demand for passenger airline services. Thus, growth in the number of aircraft MRO service providers and increase in aircraft fleet volumes in APAC are creating a favorable business environment for the market players.

Top Dominating Key Players:

1. AAR CORP
2. AeroRepair Corp.
3. AEROSPACE MRO CO., LTD.
4. Air Atlanta Aviaservices
5. AMETEK Inc.
6. Lufthansa Technik
7. Röder Präzision GmbH
8. Technic Aviation
9. TP Aerospace.
10. World Aero

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Key Benefits:

To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Aircraft Wheels MRO Market.

To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).

The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Aircraft Wheels MRO Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Aircraft Wheels MRO Market segments and regions.

Scope of the study:

The research on the Aircraft Wheels MRO Market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor's methodologies. The research also segments the Aircraft Wheels MRO Market on the basis of end user, product type, application, and demography for the forecast period 2021 - 2028. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.

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Reasons to Buy the Report:

Learn about the driving factors, affecting the market growth.
Imbibe the advancements and progress in the market during the forecast period.
Understand where the market opportunities lies.
Compare and evaluate various options affecting the market.
Pick up on the leading market players within the market.
Envision the restrictions and restrains that are likely to hamper the market.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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